UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)
[X]
QUARTERLY REPORT UNDER SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE
ACT OF 1934

               For the quarterly period ended: March 31, 2001

[] TRANSITION  REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
              For the transition period from _________ to _________

                         Commission file number 0-21991

                        ADVANCED GAMING TECHNOLOGY, INC.
       (Exact name of small business issuer as specified in its charter)

            Wyoming                                              98-0152226
  (State or other jurisdiction                                  (IRS Employer
of incorporation or organization)                            Identification No.)

                      P O BOX 46855 LAS VEGAS, NEVADA 89114 (Address of
                        principal executive offices)

                                 (702) 227-6578

                            Issuer's telephone number
<PAGE>

               APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDING DURING THE PRECEDING FIVE YEARS

Check whether the  registrant  filed all  documents  and reports  required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a court. Yes [X] No [ ]


                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practical date: March 31, 2001 25,000,000

Transitional Small Business Disclosure Format (check one). Yes [ ] No [X]

<PAGE>

                                     PART I

ITEM 1.  FINANCIAL STATEMENTS

                         INDEPENDENT ACCOUNTANT'S REPORT


Advanced Gaming Technology, Inc.

     We have  reviewed  the  accompanying  balance  sheets  of  Advanced  Gaming
Technology,  Inc. as of March 31, 2001 and December  31,  2000,  and the related
statements of operations,  and cash flows for the three month period ended March
31, 2001 and 2000.  These  financial  statements are the  responsibility  of the
Company's management.

     We conducted our review in accordance  with  standards  established  by the
American  Institute  of  Certified  Public  Accountants.  A  review  of  interim
financial  information consists principally of applying analytical procedures to
financial  data and making  inquiries of persons  responsible  for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with generally accepted auditing standards, the objective of which is
the expression of an opinion regarding the financial statement taken as a whole.
Accordingly, we do not express such an opinion.

     Based on our review,  we are not aware of any material  modifications  that
should  be made  to the  accompanying  financial  statements  for  them to be in
conformity with generally accepted accounting principles.

                                                   Respectfully submitted


                                                    /S/ Robison, Hill & Co.
                                                   Certified Public Accountants

Salt Lake City, Utah
May 8, 2001


<PAGE>





                                        2

<PAGE>
                        Advanced Gaming Technology, Inc.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                    March 31,       December 31,
ASSETS:                                                2001               2000
<S>                                               <C>                <C>
Current Assets
Cash and cash equivalents ................        $   93,249         $  171,807
Accounts Receivable                                    6,775                -
Prepaid expenses .........................             1,000              1,000
Inventory ................................            20,000             20,000
                                                  ----------         ----------
Total current assets .....................           121,024            192,807


Property and Equipment, net ..............           134,500            125,753

Other assets .............................            78,178             78,178
                                                  ----------         ----------

Total assets .............................          $333,702         $  396,738
                                                  ==========         ==========
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
                                                        March 31,   December 31,
LIABILITIES AND STOCKHOLDERS' DEFICIT:                   2001            2000
<S>                                                 <C>             <C>
Liabilities
Accounts payable and accrued liabilities ........   $    337,644   $    330,798
Current portion of long term debt ...............         13,100         13,100
                                                    ------------   ------------
Total liabilities ...............................        350,744        343,898

Long term obligations, net of current portion ...        883,802        887,176
                                                     ------------   ------------
Total liabilities ...............................      1,234,546      1,231,074

Stockholders' Deficit:
Preferred Stock-10% cumulative, $.10 par value;
 authorized 4,000,000 shares; issued - nil ......           --             --
Common Stock - $.005 par value; authorized
 25,000,000 shares, issued and outstanding
 25,000,000 at March 31, 2001 and
 December 31, 2000, respectively ................        125,000        125,000
Additional paid-in capital ......................           --             --
Accumulated deficit .............................     (1,025,844)      (959,336)
                                                    ------------   ------------
Total stockholders' deficit .....................       (900,844)      (834,336)
                                                    ------------   ------------
Total liabilities and stockholders deficit ......   $    333,702   $    396,738
                                                    ============   ============
 </TABLE>
                 See accompanying notes and accountants' report.

                                        4
<PAGE>

                        Advanced Gaming Technology, Inc.
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

 <TABLE>
<CAPTION>

                                          For the Three Months
                                               Ended March 31,
                                            2001            2000
                                        ------------    ------------
<S>                                     <C>             <C>
Revenue .............................   $     53,701    $     15,163

Expenses
  Corporate Expense/Salaries.........         56,250          56,250
  Depreciation.......................         15,000          16,000
  Other Operating Expenses...........         32,066          26,685
                                        ------------    ------------

Income (Loss) from operations .......        (49,615)        (83,772)

Other income (expense)...............
Interest, net                                (16,893)        (31,358)
                                        ------------    ------------

Net income (loss) ...................        (66,508)       (115,130)
                                        ============    ============

Net income(loss) per common share ...   $       (.00)   $       (.00)
                                        ============    ============
Weighted average common
 shares outstanding .................     25,000,000      25,000,000
</TABLE>

                 See accompanying notes and accountants' report.

                                        5

<PAGE>

                        Advanced Gaming Technology, Inc.
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (unaudited)

<TABLE>
<CAPTION>

                                                      For the Three Months Ended
                                                               March 31,
                                                          2001           2000
<S>                                                   <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) .................................   $   (66,508)  $  (115,130)
Adjustments to Reconcile Net Loss to Net Cash
Provided by (Used in) Operating Activities:
Depreciation and amortization .....................        15,000        16,000
Change in operating assets and liabilities:
Accounts Receivable                                        (6,775)          --
Accounts payable and accrued liabilities ..........         6,846        34,404
                                                      -----------   -----------
Net cash provided by (used in) operating activities       (51,437)      (64,726)

Cash Flows From Investing Activities:
Other assets ......................................          --       1,750,000
Purchase of property and equipment ................       (23,747)         --
                                                      -----------   -----------
Net Cash (Used in) provided by Investing Activities       (23,747)    1,750,000

Cash Flows From Financing Activities:
Proceeds from debt and notes ......................          --            --
Repayment of debt and notes .......................        (3,374)   (1,729,322)
                                                      -----------   -----------
Net cash provided by financing activities .........        (3,374)   (1,729,322)

Net change in cash and cash equivalents ...........       (78,558)      (44,048)
Cash and cash equivalents at beginning of period ..       171,807       440,561
                                                      -----------   -----------
Cash and cash equivalents at end of period ........   $    93,249   $   396,513
                                                      ===========   ===========
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest ..........   $    17,737    $   36,889

</TABLE>

                 See accompanying notes and accountants' report.

                                        6

<PAGE>

                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
         For the Three Months Ended March 31, 2001 and 2000 (Unaudited)

NOTE 1 - HISTORY AND ORGANIZATION

The  Company  was  incorporated  under the laws of the State of  Wyoming in 1963
under the name of MacTay Investment Co. The Company changed its name to Advanced
Gaming Technology,  Inc. in 1991. The Company's executive offices are located in
Las Vegas,  Nevada.  The Company is principally  engaged in the  development and
marketing of technology for the casino and hospitality industry.

NOTE 2 - SUMMARY OF ACCOUNTING POLICIES

The summary of  accounting  policies for  Advanced  Gaming  Technology,  Inc. is
presented to assist in understanding  the Company's  financial  statements.  The
accounting policies conform to generally accepted accounting principles and have
been consistently applied in the preparation of the financial statements.

The unaudited financial statements as of March 31, 2001 and for the three months
then ended reflect, in the opinion of management, all adjustments (which include
only normal  recurring  adjustments)  necessary  to fairly  state the  financial
position and results of operations for the three months.  Operating  results for
interim  periods are not  necessarily  indicative  of the  results  which can be
expected for full years.

A summary of the significant  accounting  policies applied in the preparation of
the accompanying financial statements is as follows:

(a)  Principles of Consolidation The consolidated  financial  statements include
     the  accounts of Advanced  Gaming  Technology,  Inc.  and its  wholly-owned
     subsidiaries.  All significant  intercompany accounts and transactions have
     been eliminated.

(b)  Inventory consists of bingo equipment parts and is carried at lower of cost
     (first-in, first-out method) and market value.

(c)  Property  and   Equipment   Property  and  equipment  is  stated  at  cost.
     Depreciation  is  provided  in  amounts  sufficient  to relate  the cost of
     depreciable  assets to  operations  over  their  estimated  service  lives,
     principally on a straight-line basis from 3 to 5 years.

     Upon sale or other  disposition  of property  and  equipment,  the cost and
     related  accumulated  depreciation  or  amortization  is  removed  from the
     accounts and any gain or loss is included in the determination of income or
     loss.

     Expenditures  for  maintenance  and  repairs  are  charged  to  expense  as
     incurred.  Major  overhauls and betterments are capitalized and depreciated
     over their useful lives.

                                        7

<PAGE>

                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
         For the Three Months Ended March 31, 2001 and 2000 (Unaudited)
                                   (Continued)

(d)  Revenue.  Revenue is generated on operating  leases and is recognized on an
     accrual  basis.  Certain  reclassifications  have  been  made  in the  2000
     financial statements to conform with the 2001 presentation

(e)  Cash and Cash Equivalents. For purposes of the Statement of Cash Flows, the
     Company  considers  all highly  liquid debt  instruments  purchased  with a
     maturity of three months or less, as cash equivalents.

(f)  Net Loss per  Common  Share.  The  reconciliations  of the  numerators  and
     denominators of the basic EPS computations are as follows:

<TABLE>
<CAPTION>
                                 2001                                2000
                  --------------------------------    -----------------------------------
                                  Number                            Number
                                    Of       Loss                     of         Loss
                     Loss         Shares   per Share     Loss       Shares     per Share
                 (Numerator)  (Denominator)          (Numerator)  (Denominator)
Basic EPS
Loss to Common
<S>               <C>          <C>          <C>       <C>          <C>           <C>
 Shareholders     $  (66,508)   25,000,000 $(0.00)   $  (115,130)  25,000,000    $(0.00)
                  ===========  ===========  ======    ===========  ==========    ======
</TABLE>

     The effect of outstanding  common stock  equivalents are  anti-dilutive for
     2001 and 2000 and are thus not considered.

(g)  Persuasiveness  of Estimates.  The  preparation of financial  statements in
     conformity  with  generally   accepted   accounting   principles   requires
     management  to make  estimates  and  assumptions  that affect the  reported
     amounts of assets and liabilities  and disclosure of contingent  assets and
     liabilities  at the  date of the  financial  statements  and  the  reported
     amounts of  revenues  and  expenses  during the  reporting  period.  Actual
     results could differ from these estimates.

     Certain  reclassifications  have been made in the 2000 financial statements
     to conform with the 2001 presentation.


                                        8
<PAGE>

                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
         For the Three Months Ended March 31, 2001 and 2000 (Unaudited)
                                   (Continued)

NOTE 3 - OTHER ASSETS

                                                        2001             2000
                                                  -------------      -----------
Investment in TravelSwitch     ...........             78,178           78,178
                                                  -------------      -----------
                                                  $    78,178        $  78,178
                                                  =============      ===========



NOTE 4 - LONG-TERM DEBT

 Long-term debt consists of the following:
                                                            2001         2000
                                                         ----------   ----------

Note payable, interest at 7%, due in monthly Payments
of $6,200 beginning March 1, 2000, Secured by land.
The note is due in July of 2006 The note is
convertible into common stock at a rate
of $.43 per share ....................................      896,902      900,276

Less: current maturities .............................       13,100       13,100
                                                         ----------   ----------
Net long-term debt ...................................   $  883,802   $  887,176
                                                         ==========   ==========

NOTE 5 - INCOME TAXES

As  of  December  31,  2000,  the  Company  had  a net  operating  loss  ("NOL")
carryforward  for income tax  reporting  purposes of  approximately  $25,000,000
available to offset future taxable income. This net operating loss carry-forward
expires at various dates between December 31, 2008 and 2015. A loss generated in
a particular year will expire for federal tax purposes if not utilized within 15
years.  Additionally,  the Internal Revenue Code contains  provisions that could
reduce  or limit the  availability  and  utilization  of these  NOLs if  certain
ownership  changes have taken place or will take place.  In accordance with SFAS
No. 109, a valuation  allowance is provided when it is more likely than not that
all or some portion of the  deferred tax asset will not be realized.  Due to the
uncertainty  with respect to the ultimate  realization  of the NOLs, the Company
established a valuation  allowance for the entire net deferred  income tax asset
of $12,000,000 as of March 31, 2001

                                        9
<PAGE>

                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
         For the Three Months Ended March 31, 2001 and 2000 (Unaudited)
                                   (Continued)

NOTE 6 - GOING CONCERN

The  accompanying  financial  statements  have been prepared in conformity  with
generally accepted accounting principles, which contemplates continuation of the
Company as a going  concern.  However,  the  Company has  sustained  substantial
operating losses in recent years. In addition,  the Company has used substantial
amounts of working capital in its operations.

In view of these  matters,  realization  of a major portion of the assets in the
accompanying balance sheet is dependent upon continued operations of the Company
which in turn is  dependent  upon the  Company's  ability to meet its  financing
requirements  and succeed in its future  operations.  Management  believes  that
actions  presently  being taken to revise the Company's  operating and financial
requirements  provide  the  opportunity  for the  Company to continue as a going
concern.

NOTE 7 - PETITION FOR RELIEF UNDER CHAPTER 11

The company filed for reorganization under chapter 11 of the U S bankruptcy code
in Las Vegas on August 26, 1998.  Under Chapter 11,  certain  claims against the
Debtor in existence  prior to the filing of the  petitions  for relief under the
federal   bankruptcy  laws  are  stayed  while  the  Debtor  continues  business
operations as Debtor-in-possession. These claims were reflected in the March 31,
1999 balance sheet as "liabilities  subject to compromise."  The bankruptcy plan
was approved June 29, 1999 and became  effective on August 19, 1999. On February
15, 2000 the  bankruptcy  court in the district of Las Vegas  approved the final
decree of the company closing the chapter 11 bankruptcy case of the company.

Pursuant to the plan,  obligations to secured creditors were re-negotiated.  All
remaining  liabilities of the company were fully satisfied  through  issuance of
new common stock.  Unsecured  creditors received 1.88 shares of new common stock
for each $1 of allowed claim. The company issued 25 million shares of new common
stock in  conjunction  with the plan.  The existing  common stock was cancelled.
Existing  shareholders  of the company on the effective date received 1 share of
new  common  stock  for  each  66  shares  of  common  stock  currently   owned.
Approximately 21 million shares were issued to creditors,  existing shareholders
and new investors. A reserve of approximately 4 million shares is maintained for
additional allowed claims.

NOTE 8 FRESH START ACCOUNTING

The  Company  accounted  for the  reorganization  using  fresh-start  reporting.
Accordingly,   all  assets  and  liabilities  were  restated  to  reflect  their
reorganization   value,   which   approximates   fair   value  at  the  date  of
reorganization.

                                       10
<PAGE>

Item 2. Management's Discussion and Analysis

General -

This discussion should be read in conjunction with  Management's  Discussion and
Analysis of  Financial  Condition  and Results of  Operations  in the  Company's
annual report on Form 10-KSB for the year ended December 31, 2000. The Company's
shares of  capital  stock are  registered  under  Section  12 of the  Securities
Exchange Act of 1934. The Company became a reporting  issuer in March 1997. This
quarterly  report on Form 10-QSB and the  information  incorporated by reference
herein contain  forward-looking  statements within the meaning of Section 27A of
the  Securities  Act of 1933,  as amended,  and  Section  21E of the  Securities
Exchange Act of 1934, as amended.  Such statements include,  but are not limited
to,  projected sales,  gross margin and net income figures,  the availability of
capital resources, plans concerning products and market acceptance.

Forward-looking  statements are inherently  subject to risks and  uncertainties,
many of which cannot be predicted  with  accuracy and some of which may not even
be anticipated. Future events and actual results, financial and otherwise, could
differ materially from those set forth in or contemplated by the forward-looking
statements  herein  and any  forward  looking  statements  should be  considered
accordingly.

In August of 1998 the company filed for  reorganization  under chapter 11 of the
U. S.  Bankruptcy Code in the District of Las Vegas.  The company  operated as a
debtor-in-possession  until  June 29,  1999 when its plan was  confirmed  by the
court. The plan became effective on August 19, 1999.

Under the terms of the  court-approved  plan the existing common stock interests
in Advanced Gaming Technology,  Inc were cancelled. The company, as reorganized,
issued new common stock. The plan provided,  generally, that unsecured creditors
of the company  holding  allowed  claims receive 1.88 shares of new common stock
for each $1 of allowed claim. Holders of common stock of the company received 7%
of the new common stock under the terms of the plan.

The company has adopted fresh-start accounting on the effective date of the plan
in accordance  with AICPA  Statement of Position  90-7 " Financial  reporting by
entities in  reorganization  under the  bankruptcy  code" (SOP 90-7).  The fresh
start  reporting  was first  reflected in the  September  30, 1999  Consolidated
Balance Sheet.

Liabilities  subject to compromise  immediately prior to the effective date were
discharged  on the  effective  date.  Depending  on the nature of the claim each
obligation was paid,  exchanged for stock,  discharged,  or carried forward as a
new liability under the terms of the plan.

In February of 2001 the company decided to accept offers for an outright sale of
the  company.  The  reorganization  process has been  completed.  The  company's
balance sheet is in the best condition in years. The sales,  service and support
network needs to be expanded.  This could be  accomplished by an existing entity
that  could do so  efficiently  gaining  significant  economies  of  scale.  The
company's most valuable assets could its  intellectual  property.  Additionally,
the tax  benefits  of the  company  could  prove  beneficial  to a larger  scale
operation.

                                       11
<PAGE>

Results of Operations -

2001 Compared to 2000

Operating loss for the three months ended March 31, 2001 was $49,615 compared to
a loss of $83,772  for the same period in 2000.  The  improvement  in  operating
income was the result of increased  revenue  from  placement of Max Lite and Max
Plus units.  Revenue  increased  to $53,701 for the three months ended March 31,
2001 from $15,163 in 2000.

The  Company is  currently  pursuing  distribution  of the Max Lite and Max Plus
electronic  bingo  system.  Management is hopeful that the company's new product
Firecracker  Bingo will be implemented  in the second quarter of 2001.  This new
Product is a complement to the existing  products and can stand alone in a bingo
Facility without any other electronics.

Modifications  have been made to the Max Lite and Max Plus products in an effort
to increase  competitiveness in the market. These updates have been accomplished
at minimal cost.

Expenses for the first three months of 2001 were $103,316 compared to $98,935 in
the prior  year.  The  slight  increase  was a direct  result of the  additional
product placements. Salaries and wages in the amount of $56,250 were accrued but
not paid at the  election  of  management  in both years.  Management  is making
efforts to minimize  expenses until  additional  cash flow can be generated from
product installations.

Other  income(expense) for the first three months of 2001 was $(16,893) compared
to $(31,358) in 2000.  Interest expense decreased in 2001 due to the elimination
of certain long-term debt during the past year. Debt service has been reduced to
approximately $7,000 per month.

                                       12
<PAGE>

Liquidity and Capital Resources -

The Company has a cash  balance of $93,249.  Cash is being  preserved as much as
possible until product  distribution  arrangements are in place.  Management has
again elected to defer payment of salaries and wages until the second Quarter of
2001.  The  company  is  pursuing  distribution  of the Max  Lite  and Max  Plus
products.  Due to strong  competition  in the market there is no guarantee  that
such efforts will be successful.

The company's debt was restructured  pursuant to the  reorganiztion  plan during
1999. Long-term debt was reduced to two notes totaling $2.6 million. The company
was required to make only  minimal debt service  payments on these notes for the
first six months following the effective date of the plan.

In March of 2000,  the company  further  reduced long term debt by eliminating A
$1.75 million note.  This was  accomplished by returning the Company's 170 acres
of land held in Branson,  Missouri to the first mortgage holder. Efforts to sell
the land in excess of this  amount were  unsuccessful.  The company did not feel
that a real  estate  investment  fit into the  overall  asset  portfolio  of the
company.  Debt  service  payments  related to the land were  nearly  $30,000 per
month.

The company continues to aggressively  market the existing Max Lite and Max Plus
electronic  bingo  systems.  In addition,  the company  intends to introduce new
projects as opportunities arise. These projects could include areas unrelated to
the current electronic bingo systems.  This is part of an overall strategic plan
to diversify revenue. Such projects may be funded through existing cash reserves
or may require  additional  working capital.  There is no guarantee that funding
will be available when these opportunities  arise. The company will consider all
methods of financing as a means of funding new projects.

The first new  project was  identified  in 1999.  The company  invested in a new
Internet  travel  venture,   TravelSwitch,   llc.   TravelSwitch  provides  room
reservations   for  the  Las   Vegas   market   from  the   Internet   addresses
www.777lasvegas.com  and  www.PlayVegas.com.  The  entity  began  live  sales in
February 2000.  TravelSwitch also operates Imperial Travel, a traditional travel
Agency and Speedway Travel,  which specializes in travel arrangements for NASCAR
Events.  TravelSwitch  generated  positive  earnings from operations  during the
first quarter of 2001.  However,  after  depreciation the resulting net earnings
were negligible.

Internet travel is one of the fastest  growing  sectors of electronic  commerce.
The company does not expect to receive cash flow from  TravelSwitch  during 2000
as excess cash,  if any, will likely be utilized to enhance the promotion of the
company's brands.

Advanced Gaming Technology owns 22% of TravelSwitch.

                                       13
<PAGE>

Inflation and Regulation -

The Company's operations have not been, and in the near term are not expected to
be, materially  affected by inflation or changing prices. The Company encounters
competition  from a variety of firms  offering  similar  products  in its market
area. Many of these firms have long standing customer relationships and are well
staffed and well financed. The Company believes that competition in the industry
is based on competitive pricing, although the ability,  reputation and technical
support of a concern is also significant.  The Company does not believe that any
recently enacted or presently pending proposed  legislation will have a material
adverse effect on its results of operations.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 2. Changes in Securities

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Submission of Matters to a Vote of Security Holders.

None.

Item 5. Other Information

None.

Item 6. Exhibits and Reports on Form 8-K

None.








                                       14
<PAGE>

                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

                        ADVANCED GAMING TECHNOLOGY, INC.
                                  (Registrant)

                 DATE: May 9, 2001     By: /s/ DANIEL H. SCOTT
                                           ------------------------------------
                                                Daniel H. Scott
                                                President, Chief Executive
                                                Officer and Director


                 DATE: May 9, 2001     By: /s/ DANIEL H. SCOTT
                                           ------------------------------------
                                                Daniel H. Scott
                                                Chief Financial Officer




















                                       15